Investor Highlights

Financial Advisory Performance Significant growth in earnings from operations Operating Revenue ($ in millions) $1,600 1,400 1,200 1,000 800 600 400 200 Earnings from Operations, Awarded Basis ($ in millions) $500 $1,403 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 | Financial Advisory Operating Revenue LAZARD Earnings from Operations, Awarded Basis 19 400 300 200 100

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